July 19, 2010
KSE-100 Index
Previous Index 10,095.80
Current Index 10,153.85
Change % 0.57%
YTD (CY10) 8.17%
YTD (FY11) 4.44%

International Indicators
  Close %age
BSE-30 17,955.92 0.26
HANGSENG 20,250.16 ( 0.03 )
NIKKEI 255 9,408.36 ( 2.90 )
FTSE 5,158.85 ( 1.00 )
DJIA 10,097.90 ( 2.52 )
SSEC 2,445.36 2.09
NASDAQ 2,179.05 ( 3.11 )

July 15, 2010 2.65
June, 2010 68.40
YTD (FY10) 18.58

Money Market Updates
6m T-bill 14-Jul-10 12.32%
12m T-bil 14-Jul-10 12.44%
3m KIBOR 12.31%
6m KIBOR 12.40%
10 yrs PIB 13.01%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 110.59
Rs/UK 131.19
Rs/US 85.70
Rs/OR 221.16

Oil $75.93/barrel
Change in % (0.69)%
Gold $1192.2.40/ounce
Change in % (1.27)%

CPI Gen. - YoY (June-10) 12.7%
CPI Gen. - FY10 (Jul -09-June 10) 11.7%
NFNE Core INFL - YoY (June-10) 10.4%
NFNE Core INFL - FY10 (Jul-09-June-10) 11.0%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,051
Population 170.03mn
US$ Reserves (July 09, 2010) $16.63bn
Trade Balance (Jul-May 10) $(15.33)bn
Curr. A/C (Jul-May-10) $(3.51)bn
Remittances (Jul -June 10) $8.91bn
Foreign Investment (Jul -May-10) $1.89bn
All Sch. Banks Deposit Base (July 09, 2010) Rs4,675bn

NAVs and Returns
as of July 16, 2010
Funds Offer Redemption
POBOP 46.9441/- 46.4747 /-
Daily Return (13.32%)
POAIIF 50.8246/-   50.3164 /-
Daily Return 7.45%
POAIF 54.02 /- 52.67 /-
Daily Return (255.92)%
POASF 52.67 /- 521.35 /-
Daily Return 388.07%
POAF 11.0364 /-
Daily Return (0.03)%
*Daily Returns are calculated as per MUFAP guidelines

Funds Rating
AMC Ratings AM3
POBOPAPF Fund A- (f)
POAF Fund Rating AA-

IMF concerned over rising expenditure, inflation
The team also expressed concerns over slow revenue reforms and poor performance of the power sector more... (D)

No need for VAT if extended GST succeeds: FBR chief
The deadline for extending the GST by Oct 1 was not given by the IMF but set by the federal government more... (D)

Offshorers pour $5.75mn into KSE
Even though local market remained depressed with low volume after imposition of capital gain tax but offshore investors once again emerged as the net buyer in Pakistan equity market worth of $5.75 million in the last week as per the National Clearing Company of Pakistan Limited (NCCPL) data. more... (TFD)





Pakistan keeps Afghan trade route ‘blocked’ for the Indians
Agreement reached on transit trade. The leaders of Pakistan and Afghanistan have reached on a consensus over transit trade agreement, and in this regard the draft has been finalised. According to the news, India was not permitted to run trade with Afghanistan via Pakistan .more... (TFD)

Link canal flowing into Punjab again
Sindh protests; 15,000 cusecs of water flows to Punjab. Qaim says no compromise on allocated water share. The Indus River System Authority (IRSA) Thursday has reopened the Chashma-Jhelum (C-J) Canal and 15,000 cusecs of water is being released in the canal and water is being provided to Punjab. ...
more... (TFD)

Warm-up talks go for fence mending
Pakistan and India Thursday talked about the revival of bilateral ties and reopening of the dialogue process with both the sides describing the discussions as meaningful and positive. Foreign ministers of both the sides spoke to the media following Indian External Affairs Minister S M Krishna's meetings with Pakistani leadership. more... (TFD)




Sector Briefing

Services sector deficit down 51pc
FY10: Services exports rise 25.4pc, imports fall 9.1pc. Pakistan services sector deficit narrowed by 51 per cent to $1.658 billion in the fiscal year 2010 against $3.38 billion in FY09, according to State Bank of Pakistan data. more... (TFD)

LSM manages 6pc swell during May
11MFY10 industrial output up 4.71pc. Large Scale Manufacturing (LSM) has continued to show recovery signs in the month of May 2010 with a growth of 6.05 per cent, according to Federal Bureau of Statistics (FBS) data more... (TFD)

Mutual funds fall 3.5pc last fiscal YoY
Mutual Funds industry size declined 3.5 per cent YoY to Rs197.5 billion in FY10 as compared to Rs204.7 billion in FY09, despite 19 new funds have been launched in previous fiscal, but disappointedly they failed to increase fund size as Mutual Fund Industry assets under management fell below Rs200 billion. more... (TFD)


KSE Notices

Habib Bank Limited
Meeting of the Board of Directos of Habib Bank Limited is scheduled to be held on July 28,2010 in Aiglemont, France, at 09.15 am french time. more... (KSE)

Pangrio Sugar Mills Limited

Board of Directors meeting that was scheduled to be held on July 20, 2010 will now be held on July 19,2010. more... (KSE)

Sindh Abadgar's Sugar mills Limited

Meeting of the Board of Directos is scheduled to be held on Friday 23, 2010 at 4.00 pm, at their registered office. more... (KSE)


(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily, (KSE) Karachi Stock Exchange
This news update is being circulated for information purposes only and no action is being solicited based on it. Information and calculations presented in this news update have been generated from sources which we believe to be reliable, however we do not represent that it is accurate, complete and should be relied upon. Pak Oman Asset Management Company Ltd. does not assume any liability on it. This news update or any part of it should not be reproduced, published or distributed without prior permission.